Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Ohio Uninsured Motorist Litigation Tied to Money for Charities
Jan 24 2011 // An Ohio insurance company in late 2010 successfully challenged a class action lawsuit involving uninsured motorist/underinsured motorist (UM/UIM) coverage in a case that played prominently in a campaign to change the way...
Capstone Forms 100th Captive Insurance Company
Jan 24 2011 // Houston-based Capstone Associated Services Ltd. announced it has formed its 100th captive insurance company. Capstone formed its first captive in 1998 and has since formed captives for a wide variety of middle market...
Missouri Doubles Number of Licensed Captive Insurers
Jan 24 2011 // Missouri doubled the number licensed captive insurers last year, from six at the end of 2009 to 12 at the end of 2010. The Missouri Department of Insurance says the growth is an indication of Missouri’s...
North Carolina Beach Plan to Retrieve Surplus Returned to Insurers
Jan 24 2011 // North Carolina Insurance Commissioner Wayne Goodwin has announced a settlement agreement that calls for the North Carolina Insurance Underwriting Association, known as the Beach Plan, to reverse the more than $16 million...
Captivated By Potential
Jan 24 2011 // Northeast State Have Uneven Success Attracting Captives States across the Northeast continue to look at captive insurance companies as a potential source of new business — and tax revenue — but the continued growth of...
Inferior Results Will Force Admitted Carriers Out of the E&S World, Eventually
Jan 24 2011 // Turnaround May Not Happen Until 2012 The loss of market share in the surplus lines sector of the property/casualty insurance industry will turn around when standard carriers begin to experience negative results from the...
New York Insurers Applaud Plan to Merge State’s Regulatory Arms
Jan 24 2011 // A key trade group for insurers in New York State applauded a proposal by Gov. Andrew Cuomo to merge the state’s insurance regulatory arm into a single agency overseeing insurance, banking and consumer protection. The...
New York ‘Crash Tax’ Roils Insurance Industry
Jan 24 2011 // Trade Groups Lash Out at Proposed FDNY Charges for Accident Response The insurance industry spoke out against what it is calling a hidden “crash tax” during a public hearing in New York City earlier this...
People
Jan 24 2011 // Washington D.C.-based broker Ames & Gough has named Christine Payne as senior account manager. Payne, who has more than 25 years of insurance industry experience, will oversee service and insurance placements for a...
Medicare Set Asides in Workers’ Compensation
Jan 24 2011 // What Agents & Brokers Need to Know One of the most important services a broker provides its customers is workers’ compensation claims review. Successful resolution and prompt closure of workers’...
Oregon Credit Score Law Cuts Insurance Rates
Jan 24 2011 // Thousands of Oregonians are enjoying lower insurance premiums as a result of a year-old credit scoring law, according to a recent survey by the Department of Consumer and Business Services (DCBS) Insurance Division. The...
Florida Commissioner McCarty Accused of Vendetta by Texas Insurer
Jan 24 2011 // A Texas insurance company and its owner are suing Florida Insurance Commissioner Kevin McCarty, accusing him of being vindictive and defamatory in his efforts to ban the company from writing workers’ compensation in...
Florida Looking for Ways to Curb Sinkhole Losses
Jan 24 2011 // Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought...
Florida Competitive in Workers’ Compensation Market Arena
Jan 24 2011 // Florida’s workers’ compensation market remains competitive with more than 250 private insurers writing coverage and only a fraction of business being funneled to the residual market. Also, availability does not...
Insurer Pays
Jan 24 2011 // Tennessee has received reimbursement for last May’s flooding that damaged state buildings and other state-owned property. Treasurer David Lillard says the state received a $7.5 million check from Lexington Insurance...
North Carolina Insurers Seek Dwelling Rate Hike
Jan 24 2011 // North Carolina insurers are looking to raise rates from 7 percent to 25 percent, or an average 20.9 percent statewide, for 2011 on dwelling fire and extended coverage policies. If approved the higher rates would affect...
Year-End Storms Cloud P/C Insurers’ Results
Jan 24 2011 // U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away...
Court Upholds Florida Regulator in Denial of Texas Insurer
Jan 23 2011 // A Texas-based workers’ compensation insurer has lost its appeal of rulings by the Florida insurance commissioner that have blocked it from doing business in the state. On Jan 20, without explanation, a three-judge...
Hudgens Directs Insurers to Exercise ‘Leniency’ After Georgia Storms
Jan 21 2011 // Georgia Insurance Commissioner Ralph Hudgens has issued an order directing insurers to exercise leniency in dealing with individuals and businesses that may have trouble paying premiums due the winter storms that swept...
Capgemini/Efma Report Urges ‘Re-focusing,’ ‘Operational Efficiencies’
Jan 21 2011 // In their recently released 2011 World Insurance Report Capgemini and Efma explore how insurers can “dissect their business to identify opportunities that will make fundamental and lasting improvements to their core...
